Division I: Associations
1-4-1 MEMBERSHIP: RISK MANAGEMENT ASSOCIATION. The Village Board does hereby authorize and approve membership in the Illinois Municipal League Risk Management Association and directs the Mayor and Village Clerk to execute an Intergovernmental Cooperation Contract with the Illinois Municipal League Risk Management Association for membership for a period of one year beginning the date the Association commences providing risk coverage to its members and each year thereafter unless this Article is repealed.
1-4-2 CONTRIBUTION TO ASSOCIATION. Each member hereby agrees to contribute to the Association a sum of money to be determined by the Association at the time of application, based on the needs of the Association and the loss experience of the Member, which sum shall constitute the cost of the Member’s first year’s contribution for second and subsequent years shall be calculated in accordance with the loss experience of the Village and the needs of the Association, including total losses and expenditures of the Self-insured Retention Fund of the Association.